Middlesex Water (NASDAQ:MSEX) Upgraded at StockNews.com

Middlesex Water (NASDAQ:MSEXGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other equities analysts have also weighed in on the stock. TheStreet lowered shares of Middlesex Water from a “b” rating to a “c+” rating in a research report on Monday, March 28th. Zacks Investment Research cut Middlesex Water from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Robert W. Baird lowered their price objective on Middlesex Water from $102.00 to $99.00 in a research note on Monday, May 2nd.

NASDAQ MSEX opened at $91.18 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.55 and a quick ratio of 0.46. The stock’s 50 day simple moving average is $97.41 and its 200-day simple moving average is $101.84. The company has a market cap of $1.60 billion, a PE ratio of 38.64 and a beta of 0.57. Middlesex Water has a 1-year low of $78.96 and a 1-year high of $121.43.

Middlesex Water (NASDAQ:MSEXGet Rating) last announced its quarterly earnings data on Friday, April 29th. The utilities provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. Middlesex Water had a return on equity of 11.41% and a net margin of 28.43%. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $36.00 million. On average, equities research analysts anticipate that Middlesex Water will post 2.65 EPS for the current fiscal year.

In other Middlesex Water news, VP G. Christian Jr. Andreasen sold 1,000 shares of Middlesex Water stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walter G. Reinhard sold 500 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $100.85, for a total transaction of $50,425.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,506 shares of company stock valued at $575,617. Corporate insiders own 1.92% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its stake in Middlesex Water by 2.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,397 shares of the utilities provider’s stock worth $3,055,000 after acquiring an additional 620 shares during the last quarter. BlackRock Inc. lifted its holdings in Middlesex Water by 95.4% during the 3rd quarter. BlackRock Inc. now owns 2,845,342 shares of the utilities provider’s stock worth $292,444,000 after buying an additional 1,388,936 shares during the last quarter. IndexIQ Advisors LLC boosted its position in shares of Middlesex Water by 11.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 5,690 shares of the utilities provider’s stock worth $585,000 after acquiring an additional 570 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Middlesex Water by 20.8% in the 4th quarter. First Trust Advisors LP now owns 206,118 shares of the utilities provider’s stock valued at $24,796,000 after acquiring an additional 35,516 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Middlesex Water during the 3rd quarter worth about $215,000. 68.14% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Company Profile (Get Rating)

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.

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